UK GAS-Prices slide as LNG send-out rates rise
Oct (Shenzhen: 000069.SZ - news) 25 (Reuters) - British wholesale gas prices fell on Thursday, pressured by abundant supplies as send-out rates from liquefied natural gas (LNG) terminals rose.
* Day-ahead gas fell by 1.25 pence to 64 pence per therm.
* Within-day gas had yet to trade by 0840 GMT.
* The system was oversupplied by 11.6 million cubic metres (mcm), with demand forecast at 211.6 mcm and supplies seen at 223.3 mcm.
* Send-out rates from British LNG terminals rose to 38 mcm on Thursday from 26 mcm on Wednesday.
* LNG deliveries to Britain in October are higher than the a year ago and across North West Europe they are at their highest since at least 2015.
* A slowdown in demand in Asia, partly owing to milder than expected winter weather, has helped to push LNG cargoes to Europe.
* Adding to British gas supplies, flows along the Langeled pipeline from Norway rose to 61 mcm from 45 mcm on Wednesday.
* The ample supplies are needed, however. Temperatures are expected to halve over the coming days to an average of 5.4 degrees Celsius at the weekend, from 10.4 degrees on Thursday.
* Peak wind generation is forecast at 6.8 gigawatt (GW), lower than previously expected and below Wednesday's 9.7 GW.
* The November gas contract fell 0.82 pence to 67.20 p/therm.
* Day-ahead Dutch gas at the TTF hub fell 0.35 euros to 24.70 euros/MWh.
* The benchmark Dec (Shanghai: 600875.SS - news) -18 EU carbon contract fell 0.86 euros to 18.75 euros a tonne. (Reporting by Sabina Zawadzki Editing by David Goodman)